Why you should get the $200 Apple Watch Series 3 over the brand-new Apple Watch Series 5 (AAPL)

The Apple Watch Series 5, the newest edition of Apple's smartwatch, was announced last week at Apple's annual keynote. The Series 5 will be available beginning on September 20.

The Series 5 starts at $399 with GPS only, and at $499 for GPS and cellular. However, the price can easily climb much higher if you're interested in using the new Apple Watch Studio to customize your band and case. A stainless steel case, for example, immediately bumps you up to at least $699, and titanium costs $799.

Apple will no longer carry the Series 4 watch, but it will continue to sell the Series 3, which retails for $199 with GPS only, or $299 for GPS and cellular. The Apple Watch Series 5 does have some enticing upgrades, like always-on retina display, but the Series 3 is too good of a deal to pass up ⁠— you get most of the same features for half the price.

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